SMCI looks to be returning to a demand zone and will likely begin accumulation and absorption at this level. Over the coming months, I would keep an eye out of discounted buying opportunities at these price levels.For those looking for the best profit margins, they can wait for price to reach the red line. This would allow for a smaller stop loss. But the risk is price may not reach these levels at all.
Note
While price may not drop below the green demand area, I would at least wait for it to enter that area before considering the stock "discounted".Trade active
First bounce. Don't be surprised if we run the low again one more time.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.